In 2024, I had the privilege of working with Small and Medium Enterprises (SMEs) across the country to strengthen their business capabilities under a program funded by ACDI VOCA/USAID. The primary aim of the initiative was to increase investments in SMEs, helping them expand, improve operations, and create more job opportunities.
Through this program, we focused on enhancing the business skills of entrepreneurs, particularly in key areas such as financial literacy, bookkeeping, budgeting, product development, sales and marketing, branding and packaging and innovation. This comprehensive training not only contributed to more efficient business operations but also boosted the capacity of women-led enterprises, leading to significant growth in both sales and investments.
Key Activities and Interventions
- Training Sessions: Entrepreneurs participated in a series of trainings and workshops that focused on essential business management skills, such as financial planning, budgeting, marketing strategies, and product development. These training sessions were designed to provide practical knowledge that could be immediately applied to their businesses.
- Mentoring and Coaching: In addition to formal training, the SMEs were offered personalized mentoring and coaching, guiding entrepreneurs through the challenges of running a business and providing tailored solutions for improvement.
- Networking Opportunities: A crucial component of the program was helping female entrepreneurs build connections with other business owners, fostering an environment of mutual support and collaboration.
- Market Expansion: Entrepreneurs were introduced to new markets, broadening their customer base and opening up new opportunities for growth and sales.
Impact and Outcomes
The results of the program were significant. By improving their financial management and marketing strategies, many participating businesses saw a reduction in operational inefficiencies and an increase in both sales and employment opportunities. Female-led enterprises, in particular, experienced a marked improvement in their operational capacity, leading to greater economic empowerment and growth.
Key Outcomes:
- Increased sales and revenue for participating SMEs
- Expanded market reach and access to new opportunities
- Enhanced financial management practices and reduced losses
- Growth in job creation
Lessons Learned
This program underscored an important lesson: when entrepreneurs lack the necessary skills and knowledge to grow their businesses, it directly impacts their financial performance and overall business growth. Capacity building is not just about improving operations—it’s about creating sustainable long-term growth. By investing in the right training and resources, SMEs can unlock their full potential, leading to higher sales, better market positioning, and greater success.
